Sandoz issues EUR 500 million bond

• Bond issuance with principal amount of EUR 500 million and 12 years maturity

• Proceeds from bond issuance will be used for general corporate purposes including refinancing of existing debt

Basel, 14 September, 2026 – Sandoz (SIX:SDZ/OTCQX:SDZNY), the global leader in affordable medicines, today announced the issuance of a EUR 500 million bond with a coupon of 4.835% and a maturity of 12 years, for general corporate purposes including the refinancing of existing debt.
Sandoz CFO Remco Steenbergen says: “The successful issuance of this 12-year EUR 500 million bond underlines the strength of our financial foundation at Sandoz and extends the maturity profile of our debt portfolio. Our proactive interest rate risk management substantially mitigated the impact of recent increases in market interest rates and enabled us to secure it at an attractive effective interest cost, below the bond’s contractual coupon. Through continued discipline in debt management, we have achieved a diversified, well-balanced maturity profile and meaningful reductions in funding costs.”
Including this transaction, Sandoz expects to maintain an average annual interest rate on gross debt below 4%, further reinforcing its resilient capital structure through a debt maturity profile extending to 2038 and an average debt maturity of approximately six years, excluding bonds maturing through 2027.
Sandoz aims to maintain an investment grade credit rating and is rated Baa2 (positive outlook) by Moody’s and BBB (positive outlook) by S&P.
The transaction was supported by a bank syndicate consisting of Bank of America, Mizuho and SEB as active bookrunners and Citi, HSBC and Société Générale as passive bookrunners. Advestra and Linklaters acted as Sandoz legal advisors.
DISCLAIMER
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz.
Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of this Media Release, and Sandoz undertakes no obligation to publicly revise any forward-looking statements, except as required by law. Accordingly, undue reliance should not be placed on the forward-looking statements. 
The distribution of this Media Release may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with applicable securities laws in such jurisdiction may constitute a violation of the securities laws of such jurisdiction.
This Media Release and the information contained herein does not constitute or form part of an offer, invitation or recommendation to purchase, sell or subscribe for any securities of Sandoz Group AG or the solicitation of any offer, invitation or recommendation to purchase, sell or subscribe for any securities of Sandoz Group AG, to any person in Australia, Canada, Japan or the United States, or in any jurisdiction to whom or in which offer or solicitation is unlawful.
In Canada, the bonds may only be offered or sold only in certain specified provinces to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors and permitted clients in accordance with applicable Canadian securities laws. Any resale of the bonds must be made in accordance with an exemption from, or a transaction not subject to, applicable prospectus requirements.
THIS MEDIA RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION. THE BONDS HAVE NOT BEEN AND WILL NOT BE REGISTERED IN THE UNITED STATES AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO ANY US PERSON, AND THIS MEDIA RELEASE MAY NOT BE DISTRIBUTED IN THE UNITED STATES.
EEA MiFID II / UK MiFIR professionals/ECPs-only / No EEA or UK PRIIPS KID Manufacturer target market (MIFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EEA or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or UK.
ABOUT SANDOZ
Sandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in affordablemedicines, with a growth strategy driven by itsPurpose: pioneering access for patients. More than20,000colleaguesof 100 nationalities work together to ensureover one billionpatients arereachedby Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300medicinesaddresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886.In 2026, Sandoz celebrates 20 years of pioneering biosimilars, 80 years of antibiotics manufacturing and 140 years of heritage.In 2025, Sandoz recorded net sales of USD 11.1 billion.
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